Crescent Resources to Develop $68M Tampa Apartment Community

By Georgiana Mihaila, Associate Editor

Crescent Resources LLC has recently disclosed plans for a new $68 million Tampa apartment community called Circle Bayshore.

Designed by MSA Architects of Miami, the Spanish eclectic-style eight-story structure will be located at 319 Bayshore Blvd., providing views of the bay. Circle Bayshore will feature studio, one-, two-, and three-bedroom floor plans. Amenities will include a two-story health club and fitness center, resort-style swimming pool, an outdoor living area with grilling stations and a fire pit, a business center and clubroom. The building will encompass a parking garage serving residents and guests.

Typical of Crescent’s other Circle communities, the 367-unit Circle Bayshore will incorporate many sustainable features and materials. The community has been designed to meet Leadership in Energy and Environmental Design (LEED) certification requirements from the U.S. Green Building Council. The first apartments are expected to be complete in the first quarter of 2014.

The apartments will feature gourmet kitchens with granite countertops, undermount sinks, a prep island and stainless steel appliances. The bathrooms will be finished with granite countertops, custom wood cabinetry, ceramic tile floors, and tub and shower surrounds. High ceilings, spacious walk-in-closets and separate linen closets are also included. Each apartment will have a private balcony and full-size washer and dryer.

Circle Bayshore is being financed by equity investment from Crescent Resources. Construction financing is supplied by Capital One and mezzanine financing by Nationwide Real Estate Investments. Moss & Associates of Fort Lauderdale will serve as general contractor. The civil engineer is King Engineering of Tampa, and the landscape architect is Land Resource Design Group Inc., of Orlando, Fla.